Today's Contents
Reporter's Notepad:
- URN Daily offers a free one-month trial - send us an email address, and you get a free month
- Plus, URN shows you what a 'conspiracy theory' looks like
Just The Facts:
- EU to cover 84% of Ukraine's external financing needs in 2025
- Kingspan gets permit to start building factories near Lviv after bureaucratic delays
- EBRD to provide €1 billion to Ukraine's energy sector in 2025
- Kremlin says visit of Putin's investment envoy to Washington 'possible'
- Kormotech mulls expansion of dry pet food production in Ukraine, Romania
- DTEK names former Japanese ambassador to advisory council amid Japan investment drive
Here's What They Think:
- The Kyiv Independent: US-proposed minerals deal threatens Ukraine's sovereignty
- Geopolitical Monitor: US assistance to Ukraine is not charity but strategic interest
Sober Second Thought:
- Most Ukrainian women want to stay in the country, citing family, patriotism, study finds
The Rebuilders' Social
- New management board at Ukrainian Railways, 13th meeting of the Steering Committee of the Ukraine Donor Platform recapped, proposals to counter growing debt to energy sector, 'How to Invest in Ukraine Now' and more.
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- Zelensky drafts secret plan to turn Canada into the 25th oblast
- Taking the 'New' out of New Mexico: Ukraine in talks with Greenland to give southern United States to Mexico
- Ukraine enacts 0.0% tariff on imports of nonsense ideas
Have a Happy Thursday! - The URN team
And now, on with the real news ...
EU to cover 84% of Ukraine's external financing needs in 2025
The European Union will cover up to 84% of Ukraine's external financing needs this year, which are estimated at $39.3 billion, the European Commission said on Wednesday, following a meeting in Kyiv of the Ukraine Donor Platform's Steering Committee.
This year, the EU has already disbursed €7.5 billion under the Ukraine Plan and the exceptional Macro-Financial Assistance (MFA) loan, and plans to disburse an an additional €23.1 billion throughout 2025, the EC said in a press release.
"The EU will continue to provide Ukraine with regular and predictable financial assistance and remains committed to supporting Ukraine's repair, recovery and reconstruction needs, in coordination with international partners and the private sector," the statement read.
During the meeting, Ukraine presented its top recovery and reconstruction priorities for 2025, based on the World Bank's fourth damage assessment and the government's Single Project Pipeline, including energy, heating, water supply and sanitation, housing and transport.
Ukraine has also provided an update on its progress toward establishing an effective, transparent, and well-coordinated public investment management (PIM) system.
The EC said this system will enhance strategic planning, prioritization, and medium-term budgeting across all government levels, aligning with Ukraine's EU accession goals.
A key component of this effort includes the development of two project preparation facilities: the Ukraine Government Project Preparation Facility (PPF), managed by Ukraine's government with World Bank support, and the Ukraine Facility for Infrastructure Reconstruction (FIRST), overseen by the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD), with €20 million backing from the EC.
These facilities are expected to be operational by the next Ukraine Recovery Conference (URC 2025), scheduled to be hosted by the Governments of Italy and Ukraine in Rome on July 10-11, the EC said.
The Ukraine Donor Platform was launched in January 2023 to coordinate donors' efforts to address Ukraine's financing needs.
Kingspan gets permit to start building factories near Lviv after bureaucratic delays
Kingspan said it has received the first building permit to begin construction on its €280 million Building Technology Manufacturing Campus near the western city of Lviv.
"We were among the first Western businesses to announce plans to invest in Ukraine since the full scale invasion, and we have been fully committed ever since," said Kingspan's Ukraine Project Director Mike Stenson.
The campus will create over 700 jobs and produce advanced insulation, energy-efficient building materials, and district heating solutions, contributing to Ukraine's reconstruction and supporting the transition to low-carbon, energy-efficient buildings, according to a press release.
Stenson first revealed the extent of the plans in an interview with Ukraine Rebuild Newswire in January last year, saying Kingspan would apply for planning permission and a building permit in Q3 of 2024, then start construction in Q4.
In February of this year, Ukraine Rebuild Newswire also reported on Stenson's remarks regarding the process of getting approvals and permits for the site, as well as the construction delay.
"The process of getting approvals and progressing is incredibly bureaucratic," Stenson said. "That's the bad news. The good news is that, if you work through it, then it's possible to do even the complicated projects."
Kingspan bought the construction site from Sparrow Capital, supported by CBRE, and is collaborating with international partners, including Delta Group, Gleeds, AVR Development, and Baker McKenzie, along with local officials.
EBRD to provide €1 billion to Ukraine's energy sector in 2025
The European Bank for Reconstruction and Development (EBRD) plans to allocate approximately €1 billion this year to support Ukraine in rebuilding its power sector and enhancing energy resilience, Reuters reported on Wednesday, citing EBRD Vice President Matteo Patrone.
The EBRD is a major lender to Ukraine, and supporting the energy sector will continue to be a top priority this year, according to Patrone.
The "energy security one is the most important, with €2 billion deployed so far. But with the activities that we are about to finalise, and also the pipeline we have, in particular, in the public sector, these €2 billion will increase substantially in 2025. It (will be) about €3 billion, probably, by the end of the year," Patrone told reporters, as quoted by Reuters.
As Russia intensified its attacks on Ukraine's power grid in March 2024, the country saw its available generation capacity reduced by half.
Ukraine is now trying to decentralise its energy supply, with more solar and wind energy and small, modular gas turbines. Patrone stated that renewables currently make up about 10% of Ukraine's energy mix, and the EBRD is exploring projects to increase this percentage.
As of the end of 2024, damage to Ukraine's energy sector due to the war with Russia stood at $68 billion, according to the World Bank.
In February, EBRD President Odile Renaud-Basso said that the lender will this year invest at least €1.5 billion this year in Ukraine's economy and businesses.
In 2024, the EBRD deployed €2.4 billion in Ukraine, bringing the total allocated to the war-torn country since the Russian full-scale invasion in February 2022 to €6.2 billion.
Kremlin says visit of Putin's investment envoy to Washington 'possible'
Kremlin spokesman Dmitry Pesko said Wednesday that a visit of Russian President Vladimir Putin's investment envoy, Kirill Dmitriev, in the US for talks with the Trump administration is possible, Reuters reported, signalling possible further warming in US-Russian relations.
"Yes, I confirm that such a visit may be possible," Peskov told reporters. "We continue to communicate with the Americans through various channels. I can't tell you anything more specific."
The comment follows reports from Reuters and CNN, citing anonymous sources, that Dmitriev would visit Washington for talks this week.
The Russian Direct Investment Fund, which is headed by Dmitriev, declined to comment. Reuters noted Stanford-educated Dmitriev is "one of the most US-savvy" of Russia's power circle with "close relations" to some key players of the Trump team.
It was not disclosed what Dmitriev would discuss on the trip, but he may deliver a message from Putin to Trump, according to the report. A potential US visit would also be the highest-level visit by Russian official since the war began.
Russia's Deputy Foreign Minister Sergei Ryabkov said Tuesday that Russia cannot accept current proposals by the US administration on ending the war in Ukraine in their current form, as they don't address what Russia sees as the "root causes of the conflict."
Peskov, however, said that Putin "remains open to peace talks" and to "seeking a political and diplomatic settlement in Ukraine."
According to the CNN report, Trump privately now questions whether Putin could be trusted and is growing impatient with the lack of progress on a ceasefire agreement.
Both Russia and Ukraine continue to accuse each other of violating the partial energy ceasefire brokered by the US earlier this month.
Kormotech mulls expansion of dry pet food production in Ukraine, Romania
Kormotech, a leading Ukrainian pet food manufacturer, is considering expanding dry pet food production, either within Ukraine or by establishing new facilities in Romania, Chief Operating Officer Igor Paranyak told Interfax-Ukraine.
"We currently operate two plants in Ukraine—one for wet pet food with an annual capacity of 27,000 tonnes and another for dry pet food with a capacity of 55,000 tonnes. In 2023, we modernized and expanded the wet food plant, investing €8.5 million in 2022 despite the ongoing war," Paranyak said.
The company's strategic markets are neighbouring countries such as Poland and Romania, Paranyak said, adding that Kormotech is prioritizing free economic zones with attractive investment conditions, such as tax incentives, similar to those in Lithuania.
"We also see Romania as a growing market for our sales, so local production could provide a more direct route to customers and enhance their loyalty," he told Interfax-Ukraine.
The company is also building its second €60 million wet food plant in Lithuania, scheduled to open in 2026, with €40 million in financing from the European Bank for Reconstruction and Development.
Earlier this year, Kormotech said it also received a grant from the USAID Competitive Economy Program to increase production in Ukraine by 22% and create 30 new jobs.
Kormotech's turnover reached $162.7 million, a 6.5% increase from the previous year, according to Interfax-Ukraine. Its brands—Optimeal, Club 4 Paws, Gav!, and Miaow!—are sold in 46 countries.
Kormotech mulls expansion of dry pet food production in Ukraine, Romania
Kormotech, a leading Ukrainian pet food manufacturer, is considering expanding dry pet food production, either within Ukraine or by establishing new facilities in Romania, Chief Operating Officer Igor Paranyak told Interfax-Ukraine.
"We currently operate two plants in Ukraine—one for wet pet food with an annual capacity of 27,000 tonnes and another for dry pet food with a capacity of 55,000 tonnes. In 2023, we modernized and expanded the wet food plant, investing €8.5 million in 2022 despite the ongoing war," Paranyak said.
The company's strategic markets are neighbouring countries such as Poland and Romania, Paranyak said, adding that Kormotech is prioritizing free economic zones with attractive investment conditions, such as tax incentives, similar to those in Lithuania.
"We also see Romania as a growing market for our sales, so local production could provide a more direct route to customers and enhance their loyalty," he told Interfax-Ukraine.
The company is also building its second €60 million wet food plant in Lithuania, scheduled to open in 2026, with €40 million in financing from the European Bank for Reconstruction and Development.
Earlier this year, Kormotech said it also received a grant from the USAID Competitive Economy Program to increase production in Ukraine by 22% and create 30 new jobs.
Kormotech's turnover reached $162.7 million, a 6.5% increase from the previous year, according to Interfax-Ukraine. Its brands—Optimeal, Club 4 Paws, Gav!, and Miaow!—are sold in 46 countries.
DTEK names former Japanese ambassador to advisory council amid Japan investment drive
Ukraine's largest private energy producer, DTEK Group, said it has appointed Kuninori Matsuda to its Advisory Council, reinforcing efforts to collaborate with Japanese partners and investors as part of the company's recovery and transition strategy.
Matsuda served as Japan's Ambassador to Ukraine between 2021 and 2024, DTEK said in a press release. His role on the Advisory Council will focus on facilitating dialogue with Japanese government agencies, financial institutions, and energy firms that can contribute to Ukraine's reconstruction.
"Japan's expertise in rebuilding infrastructure and transitioning to cleaner energy sources aligns perfectly with DTEK's vision, and I look forward to facilitating meaningful collaborations that will benefit both countries," Matsuda said.
The appointment comes after DTEK's announcement last year that it was launching "a fresh investment drive" in Japan to secure support for Ukraine's energy sector. This included meetings with key Japanese companies and a singing of cyber security deal to help protect civilian energy infrastructure against Russian hackers, DTEK said in a release at the time.
The Kyiv Independent: US-proposed minerals deal threatens Ukraine's sovereignty
Putin's invasion of Ukraine aimed to weaken and seize Ukraine's sovereignty, yet a US-proposed minerals deal could ultimately deliver the final blow by exploiting Ukraine's vulnerability for strategic and economic gain before Russia has the chance, Timothy Ash, an associate fellow at Chatham House's Russia and Eurasia Programme, wrote in an op-ed for the Kyiv Independent.
"This document reads almost like the Treaty of Versailles, imposed on Germany by France after World War I," Ash wrote. The US behaves like Ukraine has lost the war, but Ukraine still has a say in the peace process and may as well move on to continue fighting, no matter what Putin and Trump agree on, according to Ash.
Geopolitical Monitor: US assistance to Ukraine is not charity but strategic interest
Ukraine should not be viewed as a burden on the United States as proposed by some in the Trump administration when, in fact, it has played a significant role in advancing key US interests in numerous areas, Philip Dandolov wrote in an op-ed for Geopolitical Monitor.
The lifting of the security sharing pause following the March 11 meeting in Jeddah, Saudi Arabia, between American and Ukrainian delegations signals that the Trump administration has likely recognized that a strong partnership with Ukraine is mutually beneficial. Ukraine, in this context, deserves to see itself as an equal partner rather than a subordinate one, Dandolov wrote.
Most Ukrainian women want to stay in the country, citing family, patriotism, study finds
Some 79% of Ukrainian women say it's important for them to remain in the country and 72% want to stay in their own city or village, according to a study by the Kyiv-based NGO Centre for Economic Strategy and the Institute for Behavioural Studies at American University Kyiv.
Just 6% stated that remaining in Ukraine is not important to them, while 11% expressed the same about staying in their local area.
Women's desire to stay in Ukraine is strongly tied to their financial situation—the more stable their finances, the stronger their commitment to remaining. Among those struggling to afford basic food, 66% consider staying in Ukraine important, while that number rises to 85% among the wealthiest. A similar trend applies to staying in their own city or village, as per the study.
The main reason women choose to stay in Ukraine is to remain close to their families, with 91% of respondents citing this motivation. Patriotism is another key factor, as 88% of women say they stay because Ukraine is their country. Among material reasons, having a place to live is the most significant, mentioned by 72% of respondents. However, fewer women stay due to job opportunities (46%) or because they believe the quality of life in Ukraine surpasses that of other countries (47%).
At the same time, 20% of women expressed a desire to leave but lack the means to do so. Although all respondents currently reside in Ukraine, only 39% cited safety as a reason to stay, highlighting widespread concerns about security in the country.
The majority of women living in Ukraine have no plans to leave for an extended period, with 72% not considering the option at all. Among them, 55% are firmly against the idea. Meanwhile, only 15% are seriously or somewhat considering leaving, while 13% remain undecided, according to the study.
Young women aged 18–29 are 1.5 times more likely to consider leaving Ukraine, with 26% contemplating migration compared to just 6% of women aged 50–60. Among unmarried women, 22–24% are considering migration—twice the rate of married or widowed women, where only 11% express the same intention.
Women in Ukraine most often consider emigration for safety (73%) and a better quality of life (75%). Financial stability is the primary motivation, with over 65% believing they would find better jobs abroad and 62% expecting improved access to social protection and housing support. While safety is the main trigger for leaving, everyday challenges like power outages also play a role, though to a lesser extent (53%).
Opportunities for children are another key factor, with 63% of women believing their children would have better prospects abroad. Education—both for themselves and their children—is a common motivation. However, housing issues (38%) and family reunification (24%) are less influential. For most women, migration remains a personal decision rather than a family-driven one.
Social Media Posts
New Ukrainian Railways Management Board
Gebhard Hafer, chairman of the supervisory board of Ukrainian Railway, announced new members of the management board of the company, who he said all have "profound experience working at Ukrainian Railways and implementing anti-crisis measures."
The members include Mykola Ivaniniv, the former head of finance at the company, plus Oleksandr Nosulko former executive director of Donetsk Railway, and the company's former HR chief, Lidiya Hrytsenko.
Energy Sector Debt
The Kyiv-based European Business Association said that EBA experts has proposed the government introduce a cash-based corporate income tax accounting method for renewable energy producers until 2028 to counter outstanding debts.
"The accumulation of substantial debts within the market has been driven by the special obligations imposed on certain market participants, coupled with a low level of payments. Debts are also accumulating towards renewable energy producers."
Ukraine Donor Platform Steering Committee Meeting
Ukrainian Finance Minister Sergii Marchenko recapped the 13th meeting of the Steering Committee of the Ukraine Donor Platform, held in person in Kyiv yesterday for the second time.
The "agenda included ensuring the State Budget needs for 2025 and 2026, recovery, and reform implementation. This year, the need for international financing stands at $39.3 billion, with $12.4 billion already secured for the general fund of the State Budget since the beginning of 2025."
How to Invest in Ukraine Now
Volodymyr Kuzyo, who served as deputy economy minister until recently and is now CFO of Bank Lviv, posted that he will offer tips to investors at the EU-Ukraine Business Summit in Brussels on April 10-11 in a session titled "How to Invest in Ukraine Now: Practical Guidance for Businesses."
"This session will showcase real investment projects and opportunities in Ukraine, featuring insights from the European Commission, IFIs, Banks and Ukrainian businesses," he said. "I plan to elaborate on practical steps for investing through the Ukraine Investment Framework (UIF) and other financial mechanisms via banks in Ukraine." (Program and registration here)
URN Daily: Sense Bank and Ukrgasbank for sale? And US seeks to cancel $4.7 billion of Ukraine's debt
